The Chinese banks have a quite big impact on the overall market metrics, China ex Banks PE on 2017 earnings is at 25x versus 18x when banks are included. China no longer appears cheap when we exclude banks.
Read MoreChart of the Day: Beijing has the second highest GDP and the highest market cap to GDP. Shenzhen and Shanghai are in the top 5 in terms of GDP and second and third respectively in terms of market cap to GDP.
Read MoreIn our Top 5 this week we explore bond duration exposure, Peter Bernstein’s investing wisdom, and universe selection for adaptive asset allocation testing. All this and more…
Read MoreChart of the Day: Beijing, Shanghai, and Shenzhen have most listed companies and account for 51% of China’s total market capitalization. The remaining of the top 10 account for between 1-3% individually and 13% together.
Read MoreChart of the Day: Manufacturing accounts for 53% of Shanghai Stock Exchange, next is trading. Shenzhen is even higher 69%, but has grown Info Tech companies to be 8.4% of the market. Becoming ‘Silicon Valley’ of China, if not the world.
Read MoreChart of the Day: Shenzhen Stock Exchange has about 2,000 listed companies, considerably higher than Shanghai. Shanghai has grown slightly faster over the last three years.
Read MoreChart of the Day: In terms of number of listings Shenzhen accounts for 61% and Shanghai 39%. In terms of market capitalization it’s the opposite Shanghai 61% and Shenzhen 39%.
Read MoreChart of the Day: From its humble beginnings in 1993 the Chinese market now has more than 3,000 listed companies. Meanwhile, the rest of the world has seen a fall in the number of listed companies.
Read MoreGlobal Equity FVMR Snapshot: Emerging markets still look relatively cheap on PE and PB. Global markets have an ROE of 12.8%, driven by the US. Excluding US, the ROE is only at 10.6%.
Read MoreIn our Top 5 this week, we look at the basics of asset allocation, discover why financial knowledge is useless, and examine out-of-sample testing. All this and more…
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